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Reappraisal notices mailed

Reappraisal notices mailed

Rural mailbox

Special to the Herald

Assessment Change Notices have been mailed to Maury County property owners following the completion of a county-wide reappraisal of properties, according to Maury County Assessor of Property Jim Dooley.

“State law requires periodic reappraisal to improve fairness in property assessments by equalizing property values based on current market conditions,” Dooley stated.

The notices will show the market value of property as determined by County appraisers, and will reflect the change in value that has occurred over the four-year period since the last county-wide revaluation program in 2010. Sales data indicates very little change in value over the past four years, Dooley said.

Most changes are very minor and reappraisal should have little impact on most property tax bills since local governments must also adjust tax rates and acknowledge a new “Certified Tax Rate” that will generate essentially the same total property tax revenue as in the previous year. Individual property owners could see a slightly higher or lower tax bill than last year, depending on how the value of their property has changed in relation to overall values in the county.

The governing body of a county or city may exceed the “Certified Tax Rate” and raise property taxes in a reappraisal year, but only after advertising their intent to exceed the “Certified Tax Rate” and holding a public hearing on the matter, according to Dooley.

Values for agricultural land under the “Greenbelt Law” have increased more than most other properties based on the formula set forth in State law for the calculation of these values. The State Division of Property Assessments calculates “Greenbelt” values and “Greenbelt” continues to be a significant benefit for farmers.

Should property owners have questions about the new values, they should call the telephone number printed on the notice and discuss the matter with reappraisal staff. Personnel will be available to talk with property owners between the hours of 8 a.m. and 4 p.m. “If a mistake is identified, it will be corrected,” Dooley emphasized.

While most problems can be resolved informally, formal appeals may also be filed with the County Board of Equalization which will meet beginning June 2. Further appeals may then be made to the State Board of Equalization.

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